M&G will apply SaaS-based solutions to the investment portfolios of its insurance industry clients.
London-based M&G Investments, an international asset manager and part of M&G plc has tapped Clearwater Analytics for its software-as-a-service (SaaS) investment accounting solution for investment accounting and reporting, officials say.
The Clearwater Analytics offerings encompass investment management, accounting, reporting, and analytics solutions.
“The Clearwater platform will automate investment management and regulatory reporting and support the complex needs of M&G’s global insurance clients,” officials say.
“With a white-labeled version of Clearwater’s platform, M&G’s insurance clients will have access to an M&G web portal and rely on Clearwater PRISM for monthly report generation,” according to the announcement.
The automated investment reporting system “will provide clients with a complete view of their investments and enable them to meet complex multi-basis accounting requirements. Additionally, Clearwater will streamline the delivery of monthly investment board packages created by M&G, enhancing the process with greater efficiency, timeliness, and accuracy,” officials say.
“As insurers face increasingly complex challenges in managing their investment portfolios, we recognize the importance of providing robust, innovative technical solutions that keep pace with evolving regulatory change,” says Russell Lee, M&G’s head of insurance solutions, in a prepared statement.
The Clearwater offerings will help M&G expand its insurance solutions footprint “in international markets experiencing strong growth in insurance and reinsurance, while also providing clients with greater access to M&G’s compelling public and private markets investment expertise,” Lee says.
“M&G’s insurance clients will experience the benefits of a consolidated view of their portfolio investments. They will also have the flexibility to address unique reporting challenges across different regulatory regimes leveraging modern best-in-class technology and workflows,” says Keith Viverito, general manager of EMEA and APAC at Clearwater Analytics, in a prepared statement.
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